Key facts
- Unison completed its UNSN 2026-2 home equity investment securitization.
- The securitization is backed by $235 million in assets.
- The deal was issued through the Unison Midgard Fund.
- This is Unison's eighth securitization.
- DBRS Morningstar provided a formal credit rating for the transaction.
- Barclays acted as the lead bank.
Home equity investment provider Unison announced on Monday the closure of its UNSN 2026-2 securitization. Issued through the Unison Midgard Fund, the deal backed $235 million in assets and is the company’s eighth such transaction to date.
The securitization also received a formal credit rating from DBRS Morningstar, with Barclays serving as lead bank.
Unison Chief Investment Officer Matt O’Hara stated that the securitization validates investor interest in their asset class and highlights the company's pioneering role in the Home Equity Investment (HEI) industry. He noted the HEI securitization space has matured, with increased volumes and transaction sizes.
The Unison Midgard Fund, launched in 2019, invests in owner-occupied residential properties and has originated over 5,700 agreements across 33 states and Washington, D.C., covering markets that represent more than 81% of U.S. residential real estate value. Homeowners in the fund typically have homes valued over $500,000 and prime credit.
Since 2022, the Midgard Fund has completed six securitizations, four of which have received ratings. Unison indicated that its transactions this year have attracted new institutional bond buyers, expanded its investor base, strengthened its liquidity, and reflect growing institutional acceptance of HEIs as an investment asset class.